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    Property profile & analytics

    Albuquerque, NM 87106

    • Parking lots & garages
    • 1,249,351 SF
    OFF-MARKET
    Value Estimations
    $1,010,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0835455
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Parking lots & garages

    Property Details

    Year built
    1990
    Property size
    1,249,351 SF
    Property type
    Parking lots & garages
    APN
    1-016-054-202-302-2-01-01-C6
    APU
    101605420230220101C6

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,010,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Bernalillo
    State
    New Mexico
    Longitude
    -106.617
    Latitude
    35.0504
    CBSA code
    10740
    CBSA name
    ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $0.00
    $11,872,279
    $11,872,279
    -
    $0.00
    $35,620,400
    $35,620,400

    Comparable in this City

    • Value Estimation
      $1,120,000
      408,600 SF

      1300 Central SE Ave

      PARKING GARAGE, PARKING STRUCTURE • 408,600 SF
      1300 Central SE Ave, Albuquerque, NM 87106
      View Details
    • Value Estimation
      $800,000
      139,230 SF

      1000 Basehart SE

      PARKING GARAGE, PARKING STRUCTURE • 139,230 SF
      1000 Basehart SE, Albuquerque, NM 87106
      View Details
    • Value Estimation
      $270,000
      0.11 Acres

      1820 Lomas NE Blvd

      VEHICLE SALES, RENTALS • 0.11 Acres
      1820 Lomas NE Blvd, Albuquerque, NM 87106-3809
      View Details
    • Value Estimation
      $275,000
      1,812 SF

      3512 Constitution NE Ave

      SERVICE STATION (FULL SERVICE) • 1,812 SF
      3512 Constitution NE Ave, Albuquerque, NM 87106-1215
      View Details
    • Value Estimation
      $315,000
      6,300 SF

      1601 Yale SE Blvd

      AUTO REPAIR, GARAGE • 6,300 SF
      1601 Yale SE Blvd, Albuquerque, NM 87106-4160
      View Details
    • Value Estimation
      $275,000
      0.16 Acres

      1510 Central SE Ave

      VEHICLE SALES, RENTALS • 0.16 Acres
      1510 Central SE Ave, Albuquerque, NM 87106
      View Details

    Similar Nearby for Sale

    • $230,000
      9,656 SF

      Existing Tire Shop For Sale

      Operating tire shop with development potential in Albuquerque, New Mexico.
      501 Yale Blvd SE, Albuquerque, NM 87106
      View Details
    • Contact for pricing
      369,277 SF

      Albuquerque Retail Development Opportunity

      Development opportunity near downtown Albuquerque, the Sunport, and UNM.
      I-25 & Gibson Blvd, Albuquerque, NM 87106
      View Details
    • Contact for pricing
      68.00 Acres

      Campus

      Land • 68.00 Acres
      0 Campus, Albuquerque, NM 87106
      View Details
    • $250,000
      0.02 Acres

      Turnkey Retail Dispensary in Nob Hill

      Move-in ready retail space in Albuquerque's high-visibility Nob Hill district.
      629 Amherst Dr NE, Albuquerque, NM 87106
      View Details
    • $400,000
      0.04 Acres

      Nob Hill Retail on Route 66

      Prime Albuquerque retail location on historic Route 66.
      3122 Central Ave SE, Albuquerque, NM 87106
      View Details
    • Contact for pricing
      3.41 Acres

      Mesa Del Sol Retail Pads

      Albuquerque retail pads, prime location.
      0 University Blvd, Albuquerque, NM 87106
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      1,206 SF

      Retail Space Near UNM Campus

      Retail space with parking near the University of New Mexico.
      2720 Central Ave SE, Albuquerque, NM 87106
      View Details
    • $24 SF/Yr
      4,900 SF

      Mixed-Use Retail and Restaurant Space

      Eclectic retail and restaurant spaces near the University of New Mexico.
      122 Yale Blvd SE, Albuquerque, NM 87106
      View Details
    • $13 SF/Yr
      2,912 SF

      Central Avenue Retail Space Available

      Retail space with high visibility and reserved parking spaces.
      1606 Central Ave SE, Albuquerque, NM 87106
      View Details
    • Contact for pricing
      2,240 SF

      College Plaza Retail Space for Lease

      Prime Albuquerque retail space, fully renovated.
      2820 Central Ave, Albuquerque, NM 87106
      View Details
    • Contact for pricing
      3,000 SF

      Carlisle Crossing Retail Opportunity

      Retail space available near Whole Foods and high-traffic area.
      2122 Carlisle Blvd NE, Albuquerque, NM 87106
      View Details
    • Contact for pricing
      1,401 SF

      Nob Hill Retail Space - Albuquerque

      Prime Nob Hill location, multiple tenants possible.
      3339 Central Ave, Albuquerque, NM 87106
      View Details
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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